Chris Lombardi puts defense and security under the spotlight, as he shares his takes on recent NATO and EU cooperation and provides insight into the company’s own long-term strategic partnerships in Europe.

Three trends are currently driving the global electricity sector: decarbonization, decentralization and differentiation. Utilities are making significant contributions to mitigate carbon emissions, while a technology revolution is …

IN BRIEF

THE European Commission this week (31 October) cleared a 283-million-ecu Spanish government subsidy to help restructure Volkswagen subsidiary SEAT. The clearance follows assurances from Madrid that SEAT’s capacity would be cut by 30% with the closure of its Zonafranca paintshop in Barcelona and assurances that no further capital injections or discretionary aid would be paid to fund the restructuring.

European Voice

11/1/95, 5:00 PM CET

Updated 4/12/14, 12:46 AM CET

THE creation of Europe’s largest forestry products company received the green light from the Commission this week. From May next year, Finnish pulp and paper giant UPM-Kymmene will be created from Repola and Kymmene, with annual sales of 9.7 billion ecu and 45,000 staff. To win clearance, the companies agreed to sell some of their paper sack interests in Finland and pledged not to sell paper products through their joint sales agency within a given date.

THE Commission has approved a German state aid plan to help Dow Chemical buy an 80% stake of former East German petrochemical group, Buna SOW Olefinverbund (BSL). US group Dow had been offered 5.9 billion ecu in subsidies to buy the stake, including 80 million ecu in energy compensation.

ANOTHER east German state aid package is under investigation. The Commission has given Germany six weeks to provide full information on a 508-million-ecu aid for Volkswagen investment projects in eastern Germany. The aid was originally granted under a plan to produce 250,000 cars and employ 4,200 people by 1995, but this was scaled back because of a market downturn. The Commission fear this “illegally” granted aid will distort competition.

THE Greek government will appoint investment houses Alpha Finance and Samuel Montagu as advisers in the part-privatisation of the loss-making Hellenic Shipyards. They will draw up a business plan for the yard, financial an international shipbuilding firm to manage it and raise up to 15 million ecu to upgrade equipment. The Commission must approve the plan or order the repayment of 270 million ecu of subsidies.